Locust Wood Capital Advisers LLC Increases Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Locust Wood Capital Advisers LLC raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 40.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,550 shares of the information services provider’s stock after acquiring an additional 6,750 shares during the period. Alphabet accounts for 2.4% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 18th biggest position. Locust Wood Capital Advisers LLC’s holdings in Alphabet were worth $28,758,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOGL. Marquette Asset Management LLC boosted its stake in shares of Alphabet by 3.5% in the third quarter. Marquette Asset Management LLC now owns 297 shares of the information services provider’s stock valued at $363,000 after buying an additional 10 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Alphabet by 4.6% in the third quarter. Integrated Investment Consultants LLC now owns 961 shares of the information services provider’s stock valued at $1,174,000 after buying an additional 42 shares in the last quarter. Mcrae Capital Management Inc. purchased a new stake in shares of Alphabet in the third quarter valued at approximately $225,000. Spearhead Capital Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at approximately $266,000. Finally, Arbor Investment Advisors LLC boosted its stake in shares of Alphabet by 6.1% in the third quarter. Arbor Investment Advisors LLC now owns 314 shares of the information services provider’s stock valued at $383,000 after buying an additional 18 shares in the last quarter. Institutional investors own 33.53% of the company’s stock.

A number of analysts recently weighed in on GOOGL shares. Stifel Nicolaus restated a “hold” rating and issued a $1,287.00 price target on shares of Alphabet in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Wedbush boosted their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Nomura reiterated a “buy” rating and set a $1,400.00 target price (up from $1,300.00) on shares of Alphabet in a research report on Friday, July 26th. Finally, Needham & Company LLC set a $1,350.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,375.78.

Shares of NASDAQ GOOGL traded up $0.43 during trading on Tuesday, reaching $1,244.71. The company had a trading volume of 372,783 shares, compared to its average volume of 1,237,970. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The stock has a market capitalization of $864.18 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The stock has a 50-day moving average price of $1,219.25 and a two-hundred day moving average price of $1,176.61. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, sell-side analysts predict that Alphabet Inc will post 51.22 EPS for the current year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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